Don’t Argue With Structural Bears
Stephen Jen on the lessons of 2005:
I have given up trying to convince the structural USD bears about the benign perspective on global imbalances. After a year-and-a-half of hard marketing, I have come to the realization that investors’ structural views on the USD are deeply entrenched: the bears will always be bears.
posted on 20 December 2005 by skirchner
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